The Abandoned Vessel Prevention Act creates new liability rules for people who sell old commercial vessels to be used as recreational boats. Under the bill, sellers would be held financially responsible for cleanup and removal costs if the vessel sinks in U.S. waters, unless the buyer has appropriate insurance coverage in place at the time of sale. The liability requirement applies only to vessels that are at least 35 feet long and at least 40 years old, which protects smaller and newer boats from these rules. The covered expenses include the cost to remove the sunken vessel and debris, cleanup of any pollution, and repairs to water intake systems damaged by pollution. This legislation aims to prevent abandoned vessels from becoming public liabilities by ensuring that sellers transfer vessels responsibly to insured buyers.
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